BI Asset Management Fondsmaeglerselskab A S Sells 40,293 Shares of NetApp, Inc. $NTAP

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,590 shares of the data storage provider’s stock after selling 40,293 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in NetApp were worth $27,692,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its holdings in NetApp by 106.8% in the fourth quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider’s stock worth $28,136,000 after purchasing an additional 135,715 shares during the period. Jefferies Financial Group Inc. acquired a new stake in NetApp in the fourth quarter worth about $14,869,000. Norges Bank acquired a new stake in NetApp in the 4th quarter valued at about $458,060,000. Envestnet Asset Management Inc. lifted its holdings in NetApp by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after acquiring an additional 20,089 shares during the last quarter. Finally, National Pension Service lifted its holdings in NetApp by 13.6% in the 4th quarter. National Pension Service now owns 180,917 shares of the data storage provider’s stock valued at $19,374,000 after acquiring an additional 21,643 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $167.04 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The business has a fifty day simple moving average of $119.80 and a 200 day simple moving average of $110.25. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 3.28 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Sell-side analysts expect that NetApp, Inc. will post 7.14 EPS for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio is currently 32.70%.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,500 shares of company stock valued at $386,145 over the last quarter. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NTAP shares. Morgan Stanley boosted their price objective on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a report on Friday, May 29th. Bank of America upped their target price on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wells Fargo & Company boosted their price target on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Citigroup boosted their price target on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their target price on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $169.33.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.